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NEW YORK, Nov. 27, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Desktop Metal, Inc. (“Desktop” or the “Company”) (NYSE: DM) on behalf of Desktop stockholders. Our investigation concerns whether Desktop has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 8, 2021, Desktop Metal announced an independent investigation resulting from an internal whistleblower complaint concerning the Company’s EnvisionTec subsidiary. On this news, Desktop Metal’s stock price fell $0.39 per share, or 4.24%, to close at $8.81 per share on November 9, 2021. Then, on November 15, 2021, the Chief Executive Officer of EnvisionTec resigned, and Desktop Metal disclosed compliance issues with shipments from EnvisionTec resulting in Food and Drug Administration regulatory activity.
On this news, Desktop Metal’s stock price fell $1.19 per share, or 14.84%, to close at $6.83 per share on November 16, 2021.
If you purchased or otherwise acquired Desktop shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.